Mar 19, 2024   SOURCE: PR NewsWire

Cell Expansion Market Worth $26.7 billion | MarketsandMarkets(TM)

CHICAGO, March 19, 2024 /PRNewswire/ -- Cell Expansion Market in terms of revenue was estimated to be worth $14.3 billion in 2024 and is poised to reach $26.7 billion by 2029, growing at a CAGR of 13.3% from 2024 to 2029 according to a new report by MarketsandMarkets(TM). Some factors contributing to the growth of the global market includes increasing R&D investments in cell based research, growing focus on personalized medicine, and increasing number of strategic alliances for the development of novel therapeutics. However, ethical concern regarding cell biology and high cost of cell-based therapeutics are expected to hinder market growth.

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Browse in-depth TOC on "Cell Expansion Market"

514 - Tables
49 - Figures
563 - Pages

Cell Expansion Market Scope:


                 Report Coverage 
     
              Details



     Market Revenue in 2024                                             
            $14.3 billion


      Estimated Value by 2029                                            
            $26.7 billion



     Growth Rate                                             Poised to grow at a CAGR of 13.3%


      Market Size Available for  
     2022-2029



     Forecast Period            
     2024-2029



     Forecast Units             
     Value (USD Billion)



     Report Coverage              Revenue Forecast, Competitive Landscape, Growth Factors, and
                                    Trends



     Segments Covered           
     Product, Cell Type, Application, and End User



     Geographies Covered          North America, Europe, Asia Pacific, Latin America, Middle
                                    East, and Africa



     Report Highlights            Updated financial information /product portfolio of players


      Key Market Opportunities   
     Emerging markets



     Key Market Drivers         
     Increasing incidence of chronic diseases

The consumables segment accounted for the largest share of the product segment in the cell expansion market in 2023.

Based on products, the cell expansion market is segmented into consumables and equipment. Consumables segment dominated the market in 2023 and is expected to dominate the market in the forecast period. Consumables are further segmented into media, reagents, sera, vessels, and other consumables. The largest share of the segment is attributed to increasing research activities for the development of novel biopharmaceuticals.

The biopharmaceutical production segment is estimated to register the highest growth rate during the forecast period in the cell expansion market.

Based on application, the cell expansion market is segmented into biopharmaceutical production, tissue engineering & regenerative medicine, drug screening & development, and other applications. The biopharmaceutical production segment is estimated to register the highest growth rate during the forecast period. The rising demand for biopharmaceuticals such as vaccine, monoclonal antibodies, and therapeutic proteins due to increasing incidence of chronic diseases is anticipated to promote the growth of biopharmaceutical production segment in coming years.

The Asia Pacific region is the fastest-growing region of the cell expansion market in 2023.

Based on the region, the cell expansion market is segmented into major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register fastest growth in the cell expansion owing to the increasing research practices in the field of advanced therapies such as tissue engineering and regenerative medicine, high government investments & fundings for R&D, and growing biotechnology industries.

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Cell Expansion Market Dynamics:

Drivers:

    1. Increasing incidence of chronic diseases
    2. Government investments for cell-based research
    3. Growing focus on personalized medicine
    4. Increasing focus on R&D for cell-based therapies
    5. Increasing GMP certifications for cell therapy production facilities

Restraints:

    1. Ethical concerns regarding research in cell biology

Opportunities:

    1. Emerging markets

Challenge:

    1. Growth opportunities in emerging markets

Key Market Players of Cell Expansion Industry:

Key players in the cell expansion market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Sartorius AG (Germany), Corning Incorporated (US), Lonza (Switzerland), Terumo Corporation (Japan), Eppendorf SE (Germany), FUJIFILM Corporation (Japan), Bio-Techne (US), Repligen Corporation (US), Getinge AB (Sweden), Miltenyi Biotec (Germany), PerkinElmer Inc. (US), STEMCELL Technologies (Canada), PromoCell GmBH (Germany), HiMedia Laboratories (India), BD (US), Takara Bio Inc. (Japan), Shanghai Duoning Biotechnology Co., Ltd. (Japan), REPROCELL Inc. (Japan), PBS Biotech, Inc. (US), ACROBiosystems (US), Solida Biotech GmBH (Germany), Beijing CytoNiche Biotechnology Co., Ltd. (China), Neuromics (US), Bionet (Spain), and Cellexus (UK).

The primary interviews conducted for this report can be categorized as follows:

    --  By Respondent: Supply Side- 60% and Demand Side 40%
    --  By Designation: Managers - 55%, CXO & Directors - 20%, and Executives -
        25%
    --  By Region: North America - 40%, Europe -25%, Asia-Pacific -25%, Latin
        America -5% and Middle East & Africa- 5%

Recent Developments of Cell Expansion Industry:

    --  In 2020, Danaher acquired the Biopharma business from General Electric
        Company's Life Sciences division. The division will be known as Cytiva
        and act as a standalone operating company within Danaher's Life Sciences
        segment.
    --  In 2020, Eppendorf Group is expanding its production capacity at its
        Oldenburg, Holstein site in Germany. Due to the growing demand for
        consumables for COVID-19 research, the company will be manufacturing
        consumables made of high-quality plastic, such as pipette tips and tubes
        and single-use bioreactor vessels, at the newly expanded site.
    --  In 2020, Applikon Biotechnology entered into a partnership with Sotelab
        to strengthen its presence in the advanced cultivation systems market in
        South America.
    --  In 2019, Thermo Fisher Scientific invested around USD 24 million in its
        Inchinnan, Scotland site to expand global bio-production capabilities
        with additional large-volume liquid manufacturing capacity for cell
        culture media to meet growing customer demand.

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Cell Expansion Market - Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cell expansion market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

    --  Analysis of key drivers (increasing prevalence of chronic diseases,
        rising investments and fundings in cell based research, and growing
        strategic alliances for the development of biotechnology industry),
        restraints (high cost of cell based therapies and ethical concern
        regarding cell biology), opportunities (growing opportunities in
        emerging economies, advances in 3D cell expansion technology), and
        Challenges (concern regarding supply chain and logistics) influencing
        the growth of the market.
    --  Product Development/Innovation: Detailed insights on newly launched
        products of the cell expansion market
    --  Market Development: Comprehensive information about lucrative markets -
        the report analyses the market across varied regions.
    --  Market Diversification: Exhaustive information about new products,
        untapped geographies, recent developments, and investments in the cell
        expansion market
    --  Competitive Assessment: Thermo Fisher Scientific Inc. (US), Danaher
        Corporation (US), Merck KGaA (Germany), Sartorius AG (Germany), Corning
        Incorporated (US), Lonza (Switzerland), Terumo Corporation (Japan),
        Eppendorf SE (Germany), FUJIFILM Corporation (Japan), Bio-Techne (US),
        Repligen Corporation (US), Getinge AB (Sweden), Miltenyi Biotec
        (Germany), PerkinElmer Inc. (US), STEMCELL Technologies (Canada),
        PromoCell GmBH (Germany), HiMedia Laboratories (India), BD (US), Takara
        Bio Inc. (Japan), Shanghai Duoning Biotechnology Co., Ltd. (Japan),
        REPROCELL Inc. (Japan), PBS Biotech, Inc. (US), ACROBiosystems (US),
        Solida Biotech GmBH (Germany), Beijing CytoNiche Biotechnology Co., Ltd.
        (China), Neuromics (US), Bionet (Spain), and Cellexus (UK), among others
        in the market.

Related Reports:

Cell Isolation Market - Global Forecasts to 2028

3D Cell Culture Market - Global Forecasts to 2028

Microcarriers Market - Global Forecasts to 2028

Primary Cells Market - Global Forecasts to 2028

Laboratory Centrifuges Market - Global Forecasts to 2026

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